Deposit dollarization in Azerbaijan increased by 1.5 percent in 2020

The volume of population’s bank deposits in foreign currency increased by 1.5 percent in Azerbaijan year-on-year in the period of January-February, local media reported citing Central Bank of the Republic of Azerbaijan on March 31.

Thus, bank deposits in foreign currency amounted to $2,6bn in the reporting period and amounted to 52.6 percent of all deposits. It should be noted that the share of foreign currency deposits in 2019 was 52.2 percent.